Airbnb (NASDAQ:ABNB) Stock Price Expected to Rise, Piper Sandler Analyst Says

Airbnb (NASDAQ:ABNB) had its target price upped by Piper Sandler from $125.00 to $145.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. lowered their price target on Airbnb from $145.00 to $121.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. TD Cowen decreased their price objective on Airbnb from $170.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Benchmark restated a “buy” rating and set a $155.00 price objective on shares of Airbnb in a report on Monday, August 26th. Cantor Fitzgerald reiterated an “underweight” rating and issued a $94.00 target price on shares of Airbnb in a report on Monday, October 7th. Finally, Wells Fargo & Company boosted their price objective on Airbnb from $100.00 to $102.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 8th. Five research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $139.94.

Airbnb Stock Up 2.1 %

Shares of NASDAQ ABNB opened at $137.40 on Friday. The company has a market capitalization of $88.16 billion, a price-to-earnings ratio of 48.21, a price-to-earnings-growth ratio of 1.90 and a beta of 1.15. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. The business has a 50-day moving average of $129.54 and a two-hundred day moving average of $137.20. Airbnb has a 1 year low of $110.38 and a 1 year high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 33.36%. During the same period in the prior year, the company earned $2.39 earnings per share. On average, analysts forecast that Airbnb will post 4.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total transaction of $71,364.00. Following the completion of the sale, the chief technology officer now owns 198,244 shares of the company’s stock, valued at approximately $23,579,141.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Brian Chesky sold 230,769 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the transaction, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at $1,597,909,440. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total transaction of $71,364.00. Following the transaction, the chief technology officer now directly owns 198,244 shares in the company, valued at approximately $23,579,141.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 417,806 shares of company stock valued at $51,809,831. Company insiders own 27.83% of the company’s stock.

Institutional Trading of Airbnb

Institutional investors and hedge funds have recently made changes to their positions in the company. Csenge Advisory Group purchased a new stake in shares of Airbnb in the first quarter worth about $303,000. Empirical Finance LLC purchased a new position in Airbnb during the first quarter valued at $339,000. Envestnet Portfolio Solutions Inc. lifted its position in Airbnb by 45.7% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 25,021 shares of the company’s stock valued at $4,127,000 after buying an additional 7,849 shares during the period. Empowered Funds LLC lifted its position in Airbnb by 138.4% during the first quarter. Empowered Funds LLC now owns 10,271 shares of the company’s stock valued at $1,694,000 after buying an additional 5,962 shares during the period. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of Airbnb by 12.6% during the first quarter. Oppenheimer & Co. Inc. now owns 29,375 shares of the company’s stock valued at $4,846,000 after acquiring an additional 3,278 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

About Airbnb

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company’s marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.